Bangkok--17 Aug--Thai Airways International
Thai Airways International Public Company Limited is pleased to submit the Company’s consolidated financial statements and its subsidiary for the three - month and six - month period ended June 30, 2010 which has been reviewed by the Office of the Auditor General of Thailand and also Management’s Discussion and Analysis (MD&A) for the second quarter of financial year 2010 ended June 30, 2010. Details have been enclosed and can be summarized as follows:
The second quarter of fiscal year 2010 (April 1 - June 30, 2010) was the Company’s seasonal slow period along with the impact of volcano eruption in Iceland causing reduced number of passengers travelling. Further adversely affecting the number of outbound and inbound travelers to Thailand was the domestic political protest. However, freight shipment was less affected due to the global economic recovery resulting in the increase in exports and import demand. As a result, the average cabin factor was 64.6%, which is slightly lower than that of 66.2% last year. The average freight load factor was 64.8%, which is higher than that of 48.5% last year. The Company’s total revenues amounted to THB 39,634 million, which is an increase of THB 5,005 million or 14.5% over 2Q09. Total expenses, excluding gain (loss) on foreign currency exchange but including share of losses from investments by equity method and finance cost, totalled THB 41,913 million, which was an increase of THB 3,812 million or 10%, mainly due to a 46.6% increase in average jet fuel price. In addition, the Company gained on foreign currency exchange in the amount of THB 4,391 million. As a result, the Company’s net profit was THB 1,552 million or 0.91 baht per share, compared to a net loss of THB 5,403 million or 3.18 baht per share incurred in the same period last year. EBITDA was THB 3,186 million, which increased by THB 221 million from the same period last year.
The operating results for the first half of fiscal year 2010 (January 1 - June 30, 2010), the Company’s net profit totalled THB 12,276 million or THB 7.23 per share, which was higher than the net profit of THB 2,465 million or THB 1.45 per share last year. EBITDA was THB 14,671 million, which was THB 2,166 million than last year.
As of June 30, 2010, total assets for Thai Airways International Public Company Limited and its subsidiary was THB 264,189 million, a decrease of THB 7,505 million from December 31, 2009. The Company’s total liabilities totaled THB 199,123 million, which was a decrease of THB 19,327 million. The Company’s shareholders’ equity amounted to THB 65,066 million, which was an increase of THB 11,822 million.
Press Release issued by Saravanee Khuprasert
Director of International Relations
Corporate Communications
Monday 16 August 2010 at 17.00 hrs
International Public Relations Department
Thai Airways International Public Company Limited
Tel : (662) 545-2662 / 2663 / 1711 / 4686 / 1705 / 2720
Fax : (662) 545-3891